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    Gizmo, Inc. is working on its cash budget for November. Th

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    5. Gizmo, Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000.

    Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.

    To attain its desired ending cash balance for November, the company needs to borrow:

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    5. Gizmo, Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. ...

    Solution Summary

    Gizmo, Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000.

    Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.

    To attain its desired ending cash balance for November, the company needs to borrow:

    $2.19

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